{"id":542915,"date":"2022-01-24T03:53:29","date_gmt":"2022-01-24T03:53:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/"},"modified":"2022-01-24T03:53:29","modified_gmt":"2022-01-24T03:53:29","slug":"evolve-investment-to-launch-gold-backed-investment-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/","title":{"rendered":"Evolve Investment to launch gold-backed investment fund"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong><a href=\"https:\/\/www.evolveinvestment.com\/\">Evolve Investment Holding<\/a><\/strong><strong> plans to launch a gold-backed investment fund that <\/strong><strong>will invest in precious metals<\/strong>, CEO Sameh El Torgoman told Al Mal in an interview (<a href=\"https:\/\/www.youtube.com\/watch?v=GCkI9mIXYMI\">watch, runtime: 1:16:48<\/a>). The fund will be set up with EGP 500 mn in initial capital and is geared towards investors who want to trade in gold through gold-backed securities that track its price. The company is in talks with three financial institutions over their potential participation in the fund.<\/p>\n<p><strong>Gold-backed fund? <\/strong>Exchange-traded gold-backed funds are regulated financial products, where each share corresponds to a specific amount of gold. Think of it as a way of getting exposure to gold without having to buy physical bars. The share price reflects the underlying gold price. The World Gold Council has <a href=\"https:\/\/www.gold.org\/what-we-do\/investing-gold\/how-buy-gold\/gold-backed-etfs-and-similar\">lots more if you want to dive deeper<\/a>.<\/p>\n<p><strong>About Evolve: <\/strong>The company, which opened its doors this year, plans to launch multiple precious-metals-focused funds. Evolve\u2019s physical gold-trading arm, <a href=\"https:\/\/goldnettrading.com\/\">Gold Net Trading<\/a>, began operations in October 2019. Torgoman says he holds a 51% stake in the company, while eight other \u201cwell-known\u201d investors hold the rest, according to Al Mal.<\/p>\n<p><strong>This is all pending application for regulatory approval<\/strong>, El Torgoman said. There have as yet been no official proposals submitted to establish gold funds in Egypt, <a href=\"https:\/\/bit.ly\/3rKKCu9\">Al Arabiya<\/a>reported Financial Regulatory Authority (FRA) head Mohamed Omran as saying last week.<\/p>\n<p><strong>Evolve isn\u2019t the first company to tap the gold market: <\/strong>Banque Misr also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39e81dd2-3839-4e07-beb2-c473c0f75f5c\">announced plans<\/a> to launch a gold investment fund last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Evolve Investment Holding plans to launch a gold-backed investment fund that will invest in precious metals, CEO Sameh El Torgoman told Al Mal in an interview (watch, runtime: 1:16:48). The fund will be set up with EGP 500 mn in initial capital and is geared towards investors who want to trade in gold through gold-backed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":542916,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[543,102,72,544,7093,125,542],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-act-financial","tag-capital-markets","tag-enterpriseam","tag-evolve-investment-holding","tag-gold","tag-investment-watch","tag-sameh-el-torgoman","wpautop","entry"],"acf":{"mongo_id":"4f535a44-1c35-4463-a9b9-47b5617f9e87","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/307.jpg","photo_position":"above","related_issue":[542903],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Evolve Investment to launch gold-backed investment fund - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Evolve Investment to launch gold-backed investment fund\" \/>\n<meta property=\"og:description\" content=\"Evolve Investment Holding plans to launch a gold-backed investment fund that will invest in precious metals, CEO Sameh El Torgoman told Al Mal in an interview (watch, runtime: 1:16:48). The fund will be set up with EGP 500 mn in initial capital and is geared towards investors who want to trade in gold through gold-backed [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-24T03:53:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/307.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Evolve Investment to launch gold-backed investment fund\",\"datePublished\":\"2022-01-24T03:53:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/\"},\"wordCount\":250,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/307.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Act Financial\",\"capital markets\",\"EnterpriseAM\",\"Evolve Investment Holding\",\"gold\",\"investment watch\",\"Sameh El Torgoman\"],\"articleSection\":[\"Capital markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/evolve-investment-to-launch-gold-backed-investment-fund\/\",\"name\":\"Evolve Investment to launch gold-backed investment fund - 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The approval comes\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544842,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/catalyst-partners-launches-egp-1-bn-sme-focused-fund-expects-first-close-in-april\/","url_meta":{"origin":542915,"position":2},"title":"Catalyst Partners launches EGP 1 bn SME-focused fund, expects first close in April","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"Catalyst Private Equity has launched a EGP 1 bn impact investment fund that will target Egyptian SMEs, it announced in a statement (pdf) yesterday. The Catalyst Capital Egypt Fund has received commitments from some of Egypt\u2019s largest state-owned financial institutions and is working with the UN Development Program to measure\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588184,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/07\/evolve-azimut-gold-fund-sees-strong-investor-demand-plus-dhl-maire-tecnimont-x-kima\/","url_meta":{"origin":542915,"position":3},"title":"Evolve-Azimut gold fund sees strong investor demand. 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